Legal & General (L&G) Mortgage Club has unveiled a new point of sale platform for brokers that allows mortgage sourcing to be linked with applications and protection products in a single pre-populating process.
The Launchpad builds on the Mortgage Club’s existing system, by allowing brokers to enter data as the application progresses, without the need to re-key information. At the end of the process, brokers can use the system to apply online for mortgages and protection products.
The system uses ‘store and forward’ technology that enables advisers to collect the information needed for mortgage and protection quotations and applications offline, and then connect to the internet at a convenient time.
Graham Newitt, housing and protection director at L&G, said: ‘It should allow brokers to optimise their time with the clients by aggregating data across the housing sale in this way, advisers can capitalise on the benefits of trading with L&G and its lender partner, while still following their favoured sales processes.
Launchpad is an intelligent platform designed to create a new housing desktop for the adviser that interacts with L&G’s other solutions, it is not a new system on its own. For those advisers who have taken up our other point of sales systems, this system is a natural evolution that extends their use of the existing systems rather than replaces them.’
The new system is initially only compatible with Mortgage Brain and Trigold’s Prospector, although there are plans to link it to other systems in the future. Likewise, the full application in principle and mortgage application facility is only available through the nine key Mortgage Club lending partners. At the moment, general insurance products are not yet available, although there are plans to incorporate this by the end of the year.
David Kade, mortgage department manager at mortgage brokerage Churchill Estates, which tested the site, said: ‘This system is professional and impressive from our clients’ point of view. It will save us a great deal of time and money and enable us to spend more time servicing the needs of more customers.’